Bank Hiring Remains Good for MBA’s and College Grads

Despite dizzying volatility in the financial markets and unprecedented losses at certain major financial institutions, banks are still recruiting and hiring MBAs according to "Bump or Bust for MBA Jobs?". A few highlights from this BusinessWeek article:

Merrill Lynch plans to hire 170 to180 people for summer internships globally — the same number it planned to hire before announcing its largest quarterly loss in its history.

"According to an Employment Trends Survey Report conducted this fall by the MBA Career Services Council, most of the 85 business schools surveyed reported a 20% increase in overall recruiting activity this fall over last year and a 14.9% increase in on-campus recruiting. The average full-time base salary for the class of 2007 increased by 5.5%, with an 8.8% increase in the signing bonus, the survey showed."

Carnegie Mellon reports that "nearly 78% of second-year MBA students already had job offers by Jan. 21, up about 10% from this time last year."

The National Association of Colleges and Employers (NACE) anticipates uncertainty in the undergraduate hiring market. Although their last survey of employers (in the fall) showed that employers planned to hire 16% more graduates in academic year 2007-2008 compared to the previous year and give them higher signing bonuses, the NACE is planning an earlier than usual survey to explore whether the financial survey is affecting undergraduate recruiting and hiring.